IL HB2698 | 2017-2018 | 100th General Assembly


Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 15-5)
Status: Passed on August 25 2017 - 100% progression
Action: 2017-08-25 - Public Act . . . . . . . . . 100-0377
Text: Latest bill text (Chaptered) [HTML]


Amends the Build Illinois Act. Provides that the Department of Commerce and Economic Opportunity may also make loans or equity investments to small businesses with moneys in the State Small Business Credit Initiative Fund (currently, the Department make only make such loans and equity investments with moneys in the Build Illinois Bond Fund, the Illinois Capital Revolving Fund, or the Illinois Equity Revolving Fund). Provides that the Department of Commerce and Economic Opportunity may make loans to small businesses of up to $2,000,000 (currently, $750,000) per project. Provides that moneys collected from the fees imposed under this Act connected with the Capital Fund shall be deposited into the Capital Fund. Provides that loans under the minority, veteran, female, and persons with a disability loan program shall not exceed $400,000 (currently, $100,000) without a waiver from the Director of Commerce and Economic Opportunity. Effective immediately.

Tracking Information

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Roll Calls

2017-05-31 - Senate - Third Reading in Senate (Y: 55 N: 0 NV: 4 Abs: 0) [PASS]
2017-04-24 - House - Third Reading in House (Y: 111 N: 1 NV: 1 Abs: 1) [PASS]


2017-08-25HousePublic Act . . . . . . . . . 100-0377
2017-08-25HouseEffective Date August 25, 2017
2017-08-25HouseGovernor Approved
2017-06-29HouseSent to the Governor
2017-05-31HousePassed Both Houses
2017-05-31SenateAdded as Alternate Co-Sponsor Sen. Thomas Cullerton
2017-05-31SenateThird Reading - Passed; 055-000-000
2017-05-26SenateRule 2-10 Third Reading Deadline Established As May 31, 2017
2017-05-23SenatePlaced on Calendar Order of 3rd Reading May 24, 2017
2017-05-23SenateSecond Reading
2017-05-12SenateAdded as Alternate Chief Co-Sponsor Sen. Cristina Castro
2017-05-11SenatePlaced on Calendar Order of 2nd Reading May 12, 2017
2017-05-11SenateDo Pass Commerce and Economic Development; 007-000-000
2017-05-05SenateAdded as Alternate Co-Sponsor Sen. Michael Connelly
2017-05-05SenateAssigned to Commerce and Economic Development
2017-05-04SenateAdded as Alternate Chief Co-Sponsor Sen. Chuck Weaver
2017-05-03SenateAdded as Alternate Co-Sponsor Sen. Kimberly A. Lightford
2017-05-02SenateAdded as Alternate Chief Co-Sponsor Sen. Andy Manar
2017-05-02SenateReferred to Assignments
2017-05-02SenateFirst Reading
2017-05-01SenateAdded as Alternate Chief Co-Sponsor Sen. Karen McConnaughay
2017-05-01SenateChief Senate Sponsor Sen. Toi W. Hutchinson
2017-04-25SenatePlaced on Calendar Order of First Reading April 26, 2017
2017-04-25SenateArrive in Senate
2017-04-24HouseAdded Co-Sponsor Rep. Elgie R. Sims, Jr.
2017-04-24HouseAdded Co-Sponsor Rep. Jehan Gordon-Booth
2017-04-24HouseAdded Co-Sponsor Rep. Robert Martwick
2017-04-24HouseAdded Co-Sponsor Rep. LaToya Greenwood
2017-04-24HouseAdded Co-Sponsor Rep. Melissa Conyears-Ervin
2017-04-24HouseAdded Chief Co-Sponsor Rep. Stephanie A. Kifowit
2017-04-24HouseAdded Chief Co-Sponsor Rep. Carol Ammons
2017-04-24HouseThird Reading - Short Debate - Passed 111-001-000
2017-04-10HouseAdded Co-Sponsor Rep. Mark Batinick
2017-04-07HouseAdded Chief Co-Sponsor Rep. Keith R. Wheeler
2017-04-07HouseRemove Chief Co-Sponsor Rep. Barbara Wheeler
2017-04-07HousePlaced on Calendar Order of 3rd Reading - Short Debate
2017-04-07HouseSecond Reading - Short Debate
2017-03-29HouseAdded Chief Co-Sponsor Rep. Barbara Wheeler
2017-03-29HousePlaced on Calendar 2nd Reading - Short Debate
2017-03-29HouseDo Pass as Amended / Short Debate Executive Committee; 011-000-000
2017-03-29HouseHouse Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote
2017-03-13HouseHouse Committee Amendment No. 1 Rules Refers to Executive Committee
2017-03-10HouseHouse Committee Amendment No. 1 Referred to Rules Committee
2017-03-10HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Arthur Turner
2017-02-28HouseAdded Co-Sponsor Rep. Elizabeth Hernandez
2017-02-22HouseAdded Chief Co-Sponsor Rep. Linda Chapa LaVia
2017-02-22HouseAssigned to Executive Committee
2017-02-08HouseReferred to Rules Committee
2017-02-08HouseFirst Reading
2017-02-08HouseFiled with the Clerk by Rep. Arthur Turner

Code Citations

ChapterArticleSectionCitation TypeStatute Text
307509-3Amended CodeCitation Text
307509-4Amended CodeCitation Text
307509-4.2Amended CodeCitation Text
307509-4.3Amended CodeCitation Text

Illinois State Sources

Bill Comments